Freddie Mac Names David Glenn Vice Chairman

June 14, 2000

McLEAN, VA ? Freddie Mac announced today that David W. Glenn, the corporation?s president and chief operating officer, has also been named vice chairman.

"David has been an outstanding leader in driving Freddie Mac?s financial success and service to America?s homebuyers and renters for more than a decade," said Leland C. Brendsel, chairman and CEO of Freddie Mac. "As we continue to work with our customers to transform the mortgage market in the technology age, his leadership in integrating our activities across the company will be more important than ever. As a result, both lenders and borrowers will benefit as Freddie Mac continues to simplify the mortgage process and lower the cost of mortgage credit."

Glenn joined Freddie Mac in 1987 as chief financial officer and was promoted to chief operating officer in 1989 and president in 1990. He also serves as a member of the corporation?s Board of Directors. In 1999, Glenn was appointed to the Board of Directors of Neuberger Berman, Inc., an investment firm.

Prior to joining Freddie Mac, Glenn headed the Federal Savings & Loan Insurance Corporation. He later joined CalFed, Inc., one of the nation?s largest S&Ls, as senior vice president of planning and acquisitions. Glenn holds an MBA and Ph.D. in finance from Stanford University.

Source: Freddie Mac